{"id":609032,"date":"2024-05-21T01:58:30","date_gmt":"2024-05-21T01:58:30","guid":{"rendered":"https:\/\/wncen.com\/?p=609032"},"modified":"2024-06-11T06:52:03","modified_gmt":"2024-06-11T06:52:03","slug":"ethereum-soars-20-eth-etf-rumors","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-soars-20-eth-etf-rumors\/","title":{"rendered":"Ethereum Soars 20%: ETH Hype Escalates on ETF Rumors"},"content":{"rendered":"<p><em>Ethereum price rallied over 20% amid rise in hopes of ETH ETF. ETH broke many hurdles and even broke the $3,500 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh surge and cleared the $3,500 resistance zone.<\/li>\n<li>The price is trading above $3,600 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a short-term rising channel forming with support at $3,640 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to move up unless there is a close below the $3,400 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Fresh Uptrend<\/h2>\n<p>Ethereum price formed a base and rallied above the $3,200 resistance zone. ETH ETF hopes increased with the recent SEC move. Trades took advantage of the recent move, resulting in a strong upward move above the $3,350 resistance zone.<\/p>\n<p>It outperformed <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-soars-70k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and gained over 20%. There was a strong move above the $3,500 resistance zone. It traded to a new weekly high at $3,721 and is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,067 swing low to the $3,721 high.<\/p>\n<p>Ethereum is now trading above $3,600 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-dips-bulls-to-scoop-up-the-opportunity\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. There is also a short-term rising channel forming with support at $3,640 on the hourly chart of ETH\/USD.<\/p>\n<p>Immediate resistance is near the $3,700 level. The first major resistance is near the $3,720 level. An upside break above the $3,720 resistance might send the price higher.<\/p>\n<figure id=\"attachment_609033\" aria-describedby=\"caption-attachment-609033\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-609033\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?resize=1024%2C449\" alt=\"Ethereum Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ethereum_d45fdd.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-609033\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The next key resistance sits at $3,800, above which the price might gain traction and rise toward the $3,880 level. If there is a clear move above the $3,880 level, the price might rise and test the $3,950 resistance. Any more gains could send Ether toward the $4,000 resistance zone.<\/p>\n<h2>Are Dips Attractive In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,720 resistance, it could start a downside correction. Initial support on the downside is near the $3,640 level and the channel zone.<\/p>\n<p>The next major support is near the $3,600 zone. A clear move below the $3,600 support might push the price toward $3,500. Any more losses might send the price toward the $3,400 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now correcting from the 85 zone.<\/p>\n<p>Major Support Level \u2013 $3,600<\/p>\n<p>Major Resistance Level \u2013 $3,720<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price rallied over 20% amid rise in hopes of ETH ETF. ETH broke many hurdles and even broke the $3,500 resistance zone. Ethereum started a fresh surge and cleared the $3,500 resistance zone. The price is trading above $3,600 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,640 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move up unless there is a close below the $3,400 support. Ethereum Price Starts Fresh Uptrend Ethereum price formed a base and rallied above the $3,200 resistance zone. ETH ETF hopes increased with the recent SEC move. Trades took advantage of the recent move, resulting in a strong upward move above the $3,350 resistance zone. It outperformed Bitcoin and gained over 20%. There was a strong move above the $3,500 resistance zone. It traded to a new weekly high at $3,721 and is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,067 swing low to the $3,721 high. Ethereum is now trading above $3,600 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $3,640 on the hourly chart of ETH\/USD. Immediate resistance is near the $3,700 level. The first major resistance is near the $3,720 level. An upside break above the $3,720 resistance might send the price higher. The next key resistance sits at $3,800, above which the price might gain traction and rise toward the $3,880 level. If there is a clear move above the $3,880 level, the price might rise and test the $3,950 resistance. Any more gains could send Ether toward the $4,000 resistance zone. Are Dips Attractive In ETH? If Ethereum fails to clear the $3,720 resistance, it could start a downside correction. Initial support on the downside is near the $3,640 level and the channel zone. The next major support is near the $3,600 zone. A clear move below the $3,600 support might push the price toward $3,500. Any more losses might send the price toward the $3,400 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now correcting from the 85 zone. Major Support Level \u2013 $3,600 Major Resistance Level \u2013 $3,720<\/p>\n","protected":false},"author":67,"featured_media":609034,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-609032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Soars 20%: ETH Hype Escalates on ETF Rumors<\/title>\n<meta name=\"description\" content=\"Ethereum price rallied over 20% amid rise in hopes of ETH ETF. 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